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Dec 30, 2012
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>> no, the fiscal cliff deal, and what might they be arriving at in the next day or so? >> well, here is what we are hearing. i will believe none of it until i see it. >> right. >> the rates will go up for high income people, and we don't know how high income, president obama wants $250,000 as the threshold, but republicans are pushing for more than $400,000, but it is splitting hairs at a certain point and especially now in the 11th hour or less than 30 hours away from the deadline. so we will see that, and we hope that they are going to put an amt patch in to protect the middle-class in from playing the wealth year for tax year 2012 yet, and we are totally running out of time on that one, and we have a bunch of tax extenders for businesses and individuals and they have expired and will they extend those? and the payroll tax will certainly expire and nobody is talking about that. the first pay xhek in jcheck in will be smaller regardless because of that. >> and you are so good at giving explanations for 99.8% of americans who are not accountants. but the amt patch will
>> no, the fiscal cliff deal, and what might they be arriving at in the next day or so? >> well, here is what we are hearing. i will believe none of it until i see it. >> right. >> the rates will go up for high income people, and we don't know how high income, president obama wants $250,000 as the threshold, but republicans are pushing for more than $400,000, but it is splitting hairs at a certain point and especially now in the 11th hour or less than 30 hours away from...
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Dec 30, 2012
12/12
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coming up next, how the massive gains in the fiscal cliff could impact your 401k and the economy. stay with us gerri: big taxhikes set to t gerri: you make it, they take it. 23.8% is the raise that policymakers wil see on capital gains. chris edwards joins me now. he is director for tax policy studies at the cato institute. i would like to show people what we're talking about. he gets confusing for people. we have a current tax rate, 15%. on january 1, the capital gains tax rate will jump to 23.8%. i talked to a lot of my friends d they say that's not a big dumb. what you say? >> it is a big jump. if you add state taxes on top of that, the united states will be up to 20%. our major trading rtners, britain and europe and canada -- they are only 16%. so there is a ry good reason why just about every industrial country has a really low capital gains tax rate. that's because policymakers just about everywhere know that low capital gains tax rates are crucial for a growth of economy and entrepreneurship and high-thnology industries. gerri: so what if we compare favorably with a lot of
coming up next, how the massive gains in the fiscal cliff could impact your 401k and the economy. stay with us gerri: big taxhikes set to t gerri: you make it, they take it. 23.8% is the raise that policymakers wil see on capital gains. chris edwards joins me now. he is director for tax policy studies at the cato institute. i would like to show people what we're talking about. he gets confusing for people. we have a current tax rate, 15%. on january 1, the capital gains tax rate will jump to...
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Dec 30, 2012
12/12
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all over again. >> gregg: molly henneberg, molly thanks. >> arthel: mixed messages on fiscal cliff, next today. republican senator lindsay graham expressing optimism on deal and president obama is calling out lawmakers for rejecting offers for last month. >> what do you think the chances of a small deal in the less 48 hours to avoid the cliff? >> exceedingly good. i think what have we accomplished, a political vick for the president. the president has stood his ground. he is going to get tax rate increases but upper income americans and sad news for the country we have accomplished very little of not becoming greece. this won't affect the debt situation. it will be a political victory for the president and i hope we'll have the courage of our convictions when it comes time to raise the debt ceiling to fight for what we believe in. but hats off to the president. >> we have been talking to the republicans since the election has been over. they have had trouble to say yes to a number of repeated offers. >> so what kind of deal if any can we expect before the clock runs out? joining us
all over again. >> gregg: molly henneberg, molly thanks. >> arthel: mixed messages on fiscal cliff, next today. republican senator lindsay graham expressing optimism on deal and president obama is calling out lawmakers for rejecting offers for last month. >> what do you think the chances of a small deal in the less 48 hours to avoid the cliff? >> exceedingly good. i think what have we accomplished, a political vick for the president. the president has stood his ground....
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Dec 27, 2012
12/12
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WMAR
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cliff next week. we bring you up to speed on the gridlock down in dc. >> reporter: it may already be to late. five-days before the fiscal cliff and with the house out of town until sunday, the senate majority lead admitted a deal seems unlikely. >> i have to be honest. i don't know time wise how it can happen now. >> reporter: and an attack he point blame on the house speaker for letting members stay home with no deal in sight. > we are here in washington working while the members of the house of representatives are out watching movies, watching the kids play soccer and basketball. he seems to care more about keeping his speaker ship than keeping the nation on firm financial footing. >> reporter: the speaker's office responded, the senator should talk less and legislate more. the house has already passed legislation to avoid the entire fiscal cliff. democrats have not. the president returned to washington today for a last minute push before leaving vacation in hawaii he had separate phone talks with c
cliff next week. we bring you up to speed on the gridlock down in dc. >> reporter: it may already be to late. five-days before the fiscal cliff and with the house out of town until sunday, the senate majority lead admitted a deal seems unlikely. >> i have to be honest. i don't know time wise how it can happen now. >> reporter: and an attack he point blame on the house speaker for letting members stay home with no deal in sight. > we are here in washington working while the...
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Dec 28, 2012
12/12
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. >>> president obama is scheduled to give an update on the fiscal cliff within the next 15 minutes. when that happens, we will join him live for that announcement. >> for more on the fiscal cliff and what it could moon for your pay, we got you covered. just head to our home page for a breakdown of different scenarios in washington, what it could moan for your money. for more on the fiscal cliff and a heated debate, check out an all brand-new episode of square off. the round table discussion airs right here on abc2 at 11 on sunday morning. >>> continuing coverage in the planned port strike. dock workers have been working on an expired contract. today the u.s. marry time alines and the long shoring association have agreed to a 30 day extension allowing for more time to negotiate a new deal. a major sticking point will have to be cleared up by january 28. it involves royalty payments for members based on each container they unload. >>> an early morning shootout at a new jersey police headquarters left three officers with wounds. >> how the suspect managed to get one of the officer's we
. >>> president obama is scheduled to give an update on the fiscal cliff within the next 15 minutes. when that happens, we will join him live for that announcement. >> for more on the fiscal cliff and what it could moon for your pay, we got you covered. just head to our home page for a breakdown of different scenarios in washington, what it could moan for your money. for more on the fiscal cliff and a heated debate, check out an all brand-new episode of square off. the round...
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Dec 27, 2012
12/12
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we arwe're going over the fiscal cliff and lawmakers are just picturing about it, they are not trying to fix it. we have some great ideas to fix the fiscal cliff blues. try flying first class and don't pay for it. welcome to "the willis report." hello, everybody. i am gerri willis. tonight congress is pushing america up a fiscal cliff of its own making. president obama and the senate back in washington today trying to get some kind of a deal done, that is what they say, but nothing will likely come in time. harry reid spent the day moaning about how bad of a speaker john boehner is good the house is set to return sunday afternoon just one day before the end of the year. nearly 90% of americans will be hit with $500 billion in tax hikes and spending cuts. as we head off a cliff, what can you and your family expect come january 2? president of the american action reform joins me now. so, windows narrowing, what can we expect from here? >> if we literally go on autopilot and they fail to change course, i am worried about the economy. some sharp equity market attractions, consumer confide
we arwe're going over the fiscal cliff and lawmakers are just picturing about it, they are not trying to fix it. we have some great ideas to fix the fiscal cliff blues. try flying first class and don't pay for it. welcome to "the willis report." hello, everybody. i am gerri willis. tonight congress is pushing america up a fiscal cliff of its own making. president obama and the senate back in washington today trying to get some kind of a deal done, that is what they say, but nothing...
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Dec 28, 2012
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falls off the fiscal cliff next week. >>> investors are bracing for the final eurozone bond sale of the year. italy will sell up to 6 billion later today. >> and the yen has been sent lower and stocks to their highest level in 21 months. >>> this is the final "worldwide exchange" from london of the year. louisa is here for it. >> i can't believe it. it's my last working day of the year, as well. >> is it? >> yes. >> unfortunately we'll still be talking about the same thing we're talking about now. >> although i feel we'll be talking more debt ceiling, as well. >> and speaking of which, president obama is trying a last ditch effort to restart budget talks days before the u.s. goes over the fiscal cliff. speaker john boehner has called the house back into session sunday evening. house majority leader eric cantor is telling his members to be prepared to work through january 2nd. both sides are still far apart on taxes and spending cuts. harry reid says prospect deals by monday are unlikely. minority leader mitch mcconnell says there's still time for an agreement. >> republicans aren't like
falls off the fiscal cliff next week. >>> investors are bracing for the final eurozone bond sale of the year. italy will sell up to 6 billion later today. >> and the yen has been sent lower and stocks to their highest level in 21 months. >>> this is the final "worldwide exchange" from london of the year. louisa is here for it. >> i can't believe it. it's my last working day of the year, as well. >> is it? >> yes. >> unfortunately we'll...
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Dec 28, 2012
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coming up next, how the massive gains in the fiscal cliff could impact your 401k and the economy. stay with us want to know what i did in the last five hours? i played a round of golf. then i read a book while teaching myself how to play guitar; ran ten miles while knitng myself a sweater; jumped out of a plane. finally, i became a ping pong master while recording my debut album. how you ask? with 5-hour energy. i get hours of energy now -- no crash later. wait to see the next five hours. we don't let frequent heartburn come between us and what we love. so if you're one of them people whgets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur gerri: big tax hikes set to take effect on january 1. what is the most important one to worry about? we will tell you after the break. stay with us gerri: you make it, they take it. 23.8% is the raise that policymakers will see on capital gains. chris edwards joins me now. he is director for tax policy studies at th
coming up next, how the massive gains in the fiscal cliff could impact your 401k and the economy. stay with us want to know what i did in the last five hours? i played a round of golf. then i read a book while teaching myself how to play guitar; ran ten miles while knitng myself a sweater; jumped out of a plane. finally, i became a ping pong master while recording my debut album. how you ask? with 5-hour energy. i get hours of energy now -- no crash later. wait to see the next five hours. we...
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Dec 27, 2012
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cliff next week. no specific bill is on the schedule in the senate or the house, and house republicans haven't yet called their members back to washington. and hopes for a deal by the december 31 deadline are fading. darren gersh reports. >> reporter: the odds of avoiding the fiscal cliff did not get any better over the holiday. staff discussions continue, but there were few signs much, if anything has been accomplished. the house isn't even scheduled to return to washington yet, leaving it up to the senate to act. >> this is a senate that is incredibly divided, hopelessly partisan, requires 60 votes to do anything and somehow, we are going to be relying on them to in five days, come up with a compromise which is acceptable where a compromise wasn't acceptable in four years. >> reporter: it now looks like some kind of fall over the cliff is the likeliest scenario. and depending on how long it lasts, it could signal a prolonged fight over the debt limit that could spook markets again in february. >> th
cliff next week. no specific bill is on the schedule in the senate or the house, and house republicans haven't yet called their members back to washington. and hopes for a deal by the december 31 deadline are fading. darren gersh reports. >> reporter: the odds of avoiding the fiscal cliff did not get any better over the holiday. staff discussions continue, but there were few signs much, if anything has been accomplished. the house isn't even scheduled to return to washington yet, leaving...
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Dec 29, 2012
12/12
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coming up next, how the massive gains in the fiscal cliff could impact your 401k and the economy. stay with us the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% annual bonus on the cash you earn. it's the card for people who like more cash. what's in your wallet? gerri: big tax hikes set to t gerri: you make it, they take it. 23.8% is the raise that policymakers will see on capital gains. chris edwards joins me now. he is director for tax policy studies at the cato institute. i would like to show people what we're talking about. he gets confusing for people. we have a current tax rate, 15%. on january 1, the capital gains tax rate will jump to 23.8%. i talked to a lot of my friends and they say that's not a big dumb. what you
coming up next, how the massive gains in the fiscal cliff could impact your 401k and the economy. stay with us the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the capital one cash rewards card gives you 1% cash back on...
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Dec 30, 2012
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cliff next tuesday, each side blames the other. >> we can avoid going over the fiscal cliff if the president and democrat controlled senate step forward this week and work with republicans to solve this problem and solve it now. >> all over the country now, uncertainty is in the area. >> it's not a matter of am i going to pay my light bill or not but will it deplete my savings. >> even if the impact isn't real, the perceived impact could cause us to drop off in sales. >> getting a deal is up to the senate's top democrat and top republican. >> we are engaged in discussions, the majority leader myself and the white house, in hopes we can come forward as early as sunday and have a recommendation. >> whatever we come up with will be imperfect. some people aren't going to like it. >> majority leader harry reid and minority leader mitch mcconnell say they're confident they come to a compromise but they have to sell it to john boehner and fellow republicans before the deadline. >> president obama will be david gregory's exclusive guest on "meet the press" later this morning. you can watch his inter
cliff next tuesday, each side blames the other. >> we can avoid going over the fiscal cliff if the president and democrat controlled senate step forward this week and work with republicans to solve this problem and solve it now. >> all over the country now, uncertainty is in the area. >> it's not a matter of am i going to pay my light bill or not but will it deplete my savings. >> even if the impact isn't real, the perceived impact could cause us to drop off in sales....
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Dec 27, 2012
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on top of the fiscal cliff, there is the milk cliff, which could add to the weekly shopping bill in a big way. early next year, fight about raising the debt ceiling. after the scathing report on september 11 attack in benghazi, libbia, we thought that four mid-level government workers had taken the fall for the security failures at the state department. it turns out that is far from the case. we'll explain. it's been a year since the tornado flattened their church. but only now can the rebuilding begin. all because of red tape. grapevine, why being too attractive cost a woman her job. "special report" from washington starts at 6:00 p.m. eastern. now back to new york and "the five." ♪ ♪ >> welcome back to "the five." shop in saint paul has been warned to stop selling candy smokes with bubble gum cigars after they are trying to prevent kids from trying the real stuff one day. does anyone want to tie it throt is a nexus between candy cigarettes and bubble gum cigars and taking up smoking? any takers? smokers amongst us? >> greg: this research is created to prove the point researchers
on top of the fiscal cliff, there is the milk cliff, which could add to the weekly shopping bill in a big way. early next year, fight about raising the debt ceiling. after the scathing report on september 11 attack in benghazi, libbia, we thought that four mid-level government workers had taken the fall for the security failures at the state department. it turns out that is far from the case. we'll explain. it's been a year since the tornado flattened their church. but only now can the...
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Dec 27, 2012
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it's a message to urge lawmakers to work out a deal to keep the country from going over that fiscal cliff next week, which would send taxes soaring while slashing spending. >>> meanwhile, hollywood has something to celebrate as we close out 2012. it's been a very big year in the movies, with the number of tickets sold in the u.s. up for the first time in three years. the domestic box office take is set to hit a record $10.8 billion, with ticket sales up 5.6%. quite an accomplishment in the age of impressive home theaters. >>> meanwhile, when we come back, travelers weren't the only ones fed up with holiday deals. what an angry pilot had to say to his passengers about the matter. >>> also, proof that you do not have to be a kid to get excited over your christmas present. you really have to stay tuned for this. the family behind this viral video is sharing their joy. how do you do that? well, inside the brewer, there's this train that's powerful enough to carry more coffee and fresh water to make coffee that's stronger and bigger... and even hotter! actually, i just press this button. brew
it's a message to urge lawmakers to work out a deal to keep the country from going over that fiscal cliff next week, which would send taxes soaring while slashing spending. >>> meanwhile, hollywood has something to celebrate as we close out 2012. it's been a very big year in the movies, with the number of tickets sold in the u.s. up for the first time in three years. the domestic box office take is set to hit a record $10.8 billion, with ticket sales up 5.6%. quite an accomplishment in...
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Dec 30, 2012
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. >>> up next, more on the fiscal cliff, lawmakers have hit a major snag in the negotiations and we are just two days before the deadline. [ female announcer ] want younger looking eyes that say wow with olay, here's how. new regenerist eye and lash duo the cream smooths the look of lids... softens the look of lines. the serum instantly thickens the look of lashes. see wow!... eyes in just one week with olay. customer erin swenson bought so, i'm happy. today. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm happy. i'm happy. i'm happy. i'm happy. happy. happy. happy. happy. (together) happy. i love logistics. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 2
. >>> up next, more on the fiscal cliff, lawmakers have hit a major snag in the negotiations and we are just two days before the deadline. [ female announcer ] want younger looking eyes that say wow with olay, here's how. new regenerist eye and lash duo the cream smooths the look of lids... softens the look of lines. the serum instantly thickens the look of lashes. see wow!... eyes in just one week with olay. customer erin swenson bought so, i'm happy. today. sales go up... i'm happy....
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Jan 1, 2013
01/13
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the ap is reporting that the white house and gop leaders have reached a deal on the fiscal cliff. the vote on the measure will be the next step followed by action by the u.s. house of representatives. in a return on tuesday at noon th eastern.e ut senar f senatef iowa. mr. harkin: mr. president, in the last few decades, real middle-class families in america -- i say real middle-class, making $30,000, $440,000, not $400,000 a year, have steen season their jobs being more insecure, their wages stagnate, in fact, their income adjusted for inflation is less than it was in the late 1990's. their savings and pensions have shrunk or disappeared, the cost of education has soared, at the same time the wealthiest americans and large corporations grow ever richer and pay less and less in taxes. for example, take dividends. prior to 2003, dividends were always taxed as ordinary income. but now they're taxed at a less rate, at the capital gains rate. income of hedge fund managers are taxed at a lower rate than middle-class families, so-called carry interest rule. the share of our nation's weal
the ap is reporting that the white house and gop leaders have reached a deal on the fiscal cliff. the vote on the measure will be the next step followed by action by the u.s. house of representatives. in a return on tuesday at noon th eastern.e ut senar f senatef iowa. mr. harkin: mr. president, in the last few decades, real middle-class families in america -- i say real middle-class, making $30,000, $440,000, not $400,000 a year, have steen season their jobs being more insecure, their wages...
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Dec 26, 2012
12/12
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cliff within the next six days. it's a matter that's been made all the more difficult with news today that speaker boehner's house will not be back to work on thursday. we've got kristen welker joining us from beautiful honolulu. that's a lovely spot there. >> it is. hey, karen. >> hey. wel get to the fiscal cliff in just a moment. we understand that you've just gotten word that the president is actually getting updates on the condition of former president rw bush. what can you tell us about that sfl. >> that's right. according to a senior official, president obama has been kept up to date on the condition of former president bush. he is recovering. he spent christmas in the hospital. doctors kept him there after concern that his fever was increasing. now, the senior administration officials won't confirm who's updating president obama. karen, it's not unusual for a sitting president to be kept in the loop when this type of situation arouss. when a former president is ill. so we are being told he has been kept in th
cliff within the next six days. it's a matter that's been made all the more difficult with news today that speaker boehner's house will not be back to work on thursday. we've got kristen welker joining us from beautiful honolulu. that's a lovely spot there. >> it is. hey, karen. >> hey. wel get to the fiscal cliff in just a moment. we understand that you've just gotten word that the president is actually getting updates on the condition of former president rw bush. what can you tell...
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Dec 31, 2012
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if congress does reach a small deal on taxes before the fiscal cliff deadlines up, their next fight over the dead ceiling will be queued up and ready to go. whether or not we go over the fiscal cliff tomorrow night, a political stand-off over the debt ceiling is imminent. joining us sort through all of this current and future fiscal crises is ezra klein. at "the washington post" as well as columnist for bloomberg view. thanks for joining us. you addressed the issue of what happens next, i saw you on rachel's show friday. your theory are it's key to how the fiscal cliff plays out. explain. >> there's a significant difference of opinion in the political ramification of what happens if we go over and it comes down debt ceiling. if we go over the fiscal cliff they have all of the leverage because we'll go into the debt ceiling and it will be just like 2011 again. they'll say we're not going to raise the debt ceiling unless you cut entitlements, barack obama will say no and terrified of consequences of national default he'll say yes. so they'll get all of the entitlement cuts with no tax incr
if congress does reach a small deal on taxes before the fiscal cliff deadlines up, their next fight over the dead ceiling will be queued up and ready to go. whether or not we go over the fiscal cliff tomorrow night, a political stand-off over the debt ceiling is imminent. joining us sort through all of this current and future fiscal crises is ezra klein. at "the washington post" as well as columnist for bloomberg view. thanks for joining us. you addressed the issue of what happens...
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Dec 29, 2012
12/12
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how many americans will have to shell out more in taxes next year if we go over the fiscal cliff? 66%? 88%, or everybody? the answer is next. [ mother ] you can't leave the table till you finish your vegetables. [ clock ticking ] [ male announcer ] there's a better way... v8 v-fusion. vegetable nutrition they need, fruit taste they love. could've had a v8. or...try kids boxes! because for every two pounds you lose through diet and exercise, alli can help you lose one more by blocking some of the fat you eat. let's fight fat with alli. ♪ make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along wit
how many americans will have to shell out more in taxes next year if we go over the fiscal cliff? 66%? 88%, or everybody? the answer is next. [ mother ] you can't leave the table till you finish your vegetables. [ clock ticking ] [ male announcer ] there's a better way... v8 v-fusion. vegetable nutrition they need, fruit taste they love. could've had a v8. or...try kids boxes! because for every two pounds you lose through diet and exercise, alli can help you lose one more by blocking some of...
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Dec 25, 2012
12/12
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KPIX
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cliff next week. they left congress on friday with a promise to return after christmas. er
cliff next week. they left congress on friday with a promise to return after christmas. er
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Dec 27, 2012
12/12
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next up, a quarter to the hour. stocks every 15 minutes. the dow is down on fiscal cliff peers. it was down triple digits. it appears to be back up. nicole: everyone has their focus on washington. they are waiting on something to come out of washington. they need to solve the fiscal cliff. let's take a look at the major averages. they are all down or then a half of a percentage each. ford adding over 2300 workers in michigan. bank of america hit a new 52 week high. smith and wesson, they make guns. they have been under pressure after the shooting in connecticut. now, they are back in action. research in motion, but very tan, waiting on that. there were concerns on how many sales actually occurred. liz: thank you. even if we can get an answer to the debt crisis from washington, d.c., the real damage may be done by the new regulation. first, some of today's winners. take a look. ♪ liz: next up, a solution to the looming debt crisis may do little to save us from an economic disaster. the white house is working on a brand-new set of regulations that could handcuff business growth.
next up, a quarter to the hour. stocks every 15 minutes. the dow is down on fiscal cliff peers. it was down triple digits. it appears to be back up. nicole: everyone has their focus on washington. they are waiting on something to come out of washington. they need to solve the fiscal cliff. let's take a look at the major averages. they are all down or then a half of a percentage each. ford adding over 2300 workers in michigan. bank of america hit a new 52 week high. smith and wesson, they make...
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Dec 30, 2012
12/12
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there are ways to avoid the fiscal cliff in the next 36 hours. >> what is that mood like? i know you have been talking to them day in and day out. i was asking you on the commercial break what you are doing on capitol hill, what you are doing now. a lot of hurry up and wait. >> there's a lot of frustration. everybody understands this is a very serious issue. 36 hours from now, the fiscal cliff takes effect if there's inaction. there's some optimism. there's reason to be hopeful. i think the senate is going to come up with a plan we'll be able to vote on in the house. if not, the president put forward a plan that is ready to go now. there's no reason we can't get that done. >> the president has a back-up plan, he wants you to put something forward to make sure the tax cuts stay in place for the middle class. it's something you can support. what is your threshold? is it $400,000 or $500,000? if reid and mcconnell come up with a deal, what would you support? >> i would support $250,000. it's probably going to be higher than $250,000 somewhere between 400,000 and 500,000. if t
there are ways to avoid the fiscal cliff in the next 36 hours. >> what is that mood like? i know you have been talking to them day in and day out. i was asking you on the commercial break what you are doing on capitol hill, what you are doing now. a lot of hurry up and wait. >> there's a lot of frustration. everybody understands this is a very serious issue. 36 hours from now, the fiscal cliff takes effect if there's inaction. there's some optimism. there's reason to be hopeful. i...
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there is some political advantage to waiting to go off the fiscal cliff and coming back in january. the house speaker john boehner may have more flexibility as we're just saying. so that's one plus and democrats also will have a strengthened position in the congress come january. >> if republicans wait until the start of the new congress they can say, you know what? we voted to lower taxes. >> exactly. >> they just went up. >> i want to end with you here because we spend a lot of time talking about the fiscal cliff and the fact of the matter is the sequestration is fazed in. >> right. >> when you start talking about some of these taxes, whether it's the ending of unemployment insurance -- >> yeah. >> whether it's the payroll tax holiday going away, you start talking about an immediate impact for millions of families in this country. >> part of david's spoipoint is there's two to three-month wriggle room and shifting resources to unemployment insurance to keeping marginal tax rates unchanged, you know, for the next few months. at some point, look, they won't be able to do that. i wou
there is some political advantage to waiting to go off the fiscal cliff and coming back in january. the house speaker john boehner may have more flexibility as we're just saying. so that's one plus and democrats also will have a strengthened position in the congress come january. >> if republicans wait until the start of the new congress they can say, you know what? we voted to lower taxes. >> exactly. >> they just went up. >> i want to end with you here because we spend...
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maybe rg3 can negotiate the fiscal cliff next. we'll be right back with more on "morning joe." humans. even when we cross our t's and dot our i's, we still run into problems. namely, other humans. which is why at liberty mutual insurance, auto policies come with new car replacement and accident forgiveness if you qualify. see what else comes standard at libertymutual.com. liberty mutual insurance. responsibility. what's your policy? ♪ >>> all right, there were some sports events that happened over the weekend, and -- >> one or two. >> -- i'm going to toss this to michael steele, who loves the redskins, and they made the playoffs, michael. >> absolutely. hail to the redskins. rg3, alfred morris, boy, they knocked it out of the park. and look, the washington guys like biden and mcconnell can learn something from this, you know? when the quarterback is down, maybe you get a little tailback like alfred morris to come in and help you out, and that's what he did for the skins. awesome game last night. >> all right. ed rendell, i guess we've got rookie quarterbacks matching up next
maybe rg3 can negotiate the fiscal cliff next. we'll be right back with more on "morning joe." humans. even when we cross our t's and dot our i's, we still run into problems. namely, other humans. which is why at liberty mutual insurance, auto policies come with new car replacement and accident forgiveness if you qualify. see what else comes standard at libertymutual.com. liberty mutual insurance. responsibility. what's your policy? ♪ >>> all right, there were some sports...
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off the so-called fiscal cliff. we'll show them to you and we'll talk about them. this is msnbc. [ dylan ] this is one way to keep your underwear clean. this is another! ta-daa! try charmin ultra strong. it cleans so well and you can use up to four times less than the leading value brand. oh! there it is. thanks son. hey! [ female announcer ] charmin ultra strong has a duraclean texture that can help you get clean while still using less. and it's four times stronger versus the leading value brand. charmin ultra strong helps keep you and your underwear clean. we all go. why not enjoy the go with charmin ultra strong? starts with arthritis pain and a choice. take tylenol or take aleve, the #1 recommended pain reliever by orthopedic doctors. just two aleve can keep pain away all day. back to the news. >>> the economists, business leaders and all think that we're poised to grow in 2013 as long as politics in washington don't get in the way of america's progress. >> president barack obama yesterday warning about the very
off the so-called fiscal cliff. we'll show them to you and we'll talk about them. this is msnbc. [ dylan ] this is one way to keep your underwear clean. this is another! ta-daa! try charmin ultra strong. it cleans so well and you can use up to four times less than the leading value brand. oh! there it is. thanks son. hey! [ female announcer ] charmin ultra strong has a duraclean texture that can help you get clean while still using less. and it's four times stronger versus the leading value...
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the house passed legislation to avoid the fiscal cliff. senate democrats have not. if the president and lawmakers cannot reach a deal in the next five days, automatic tax hikes and major spending cuts are set to kick in and economists warn that could trigger another recession. what else are we hearing from democrats on the hill? >> trace, very interesting comments from vice president joe biden up here for an unrelated matter about the fiscal cliff today. he says, essentially he was asked what do you think will pass? he said if you tell me what would attract republican support, i can tell you what would pass. if asked if he was optimistic, he said he was neither optimistic or pessimistic but was going back to talk to the president. the senate majority leader sounded frustrated with house republican leadership. >> american people i don't think understand the house of representatives is operating out the house of representatives. it's being operated with a dictatorship of the speaker, not allowing the vast majority of the house representatives to get what they want. >>
the house passed legislation to avoid the fiscal cliff. senate democrats have not. if the president and lawmakers cannot reach a deal in the next five days, automatic tax hikes and major spending cuts are set to kick in and economists warn that could trigger another recession. what else are we hearing from democrats on the hill? >> trace, very interesting comments from vice president joe biden up here for an unrelated matter about the fiscal cliff today. he says, essentially he was asked...
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the fiscal cliff. the capital-gains taxs. there is no compelling reason to buy over the next two to three months. let some of this pass, use your assets in other places. raise some cash. then you will be in a much better position to make yourself a lot of money once 2013 starts. melissa: the thing all of your ideas have in common this idea of hungering down and having this investment over a long period of time. why wouldn't you hunker down within the stock market? because you have to give president obama credit that, you know, whether it has been because of the fed and easy money or whhtever it has been the stock market has done well. would you buy some favorite stocks and just plan on holding them through the entire next four years? >> you know i have always been an advocate of buying stocks that pay high dividends but the dividend taxes going from 15% up to 40 and that take as huge wind out of the sails for that argument. so, you know the timing is everything. timing was good to buy stocks at the beginning of obama. now not
the fiscal cliff. the capital-gains taxs. there is no compelling reason to buy over the next two to three months. let some of this pass, use your assets in other places. raise some cash. then you will be in a much better position to make yourself a lot of money once 2013 starts. melissa: the thing all of your ideas have in common this idea of hungering down and having this investment over a long period of time. why wouldn't you hunker down within the stock market? because you have to give...
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to the fiscal cliff -- the stakes are high and the time is short. and so far there has been no deal reached between the lawmakers and president obama to try to avoid going over the fiscal cliff that comes on new year's day. but after a meeting at the white house, the president said he is hopeful. >> i just had a good and constructive discussion at the white house with senate and house leadership about how to prevent this tax hike on the middle class. and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. >> cnn's chief business correspondent ali velshi joins us from new york with some very good insight. senate majority leader harry reid has said if they don't reach something by monday he'll bring forward a bill to help out the middle class for an up-and-down vote. >> right. >> put everybody on the record, but especially republicans. isn't that the tactic? >> exactly right. the step before that is harry reid is working on some bill that
to the fiscal cliff -- the stakes are high and the time is short. and so far there has been no deal reached between the lawmakers and president obama to try to avoid going over the fiscal cliff that comes on new year's day. but after a meeting at the white house, the president said he is hopeful. >> i just had a good and constructive discussion at the white house with senate and house leadership about how to prevent this tax hike on the middle class. and i'm optimistic we may still be...
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. >>> "outfront" next, worries about the fiscal cliff wreaking havoc on our economy. stocks down for the fifth straight day. what lawmakers must do to stop the bleeding. >>> we count down our top political rivalries. find out how many of your favorite politicians made this list. ve, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. ...but he'd wait for her forever, for any reason, and would always be there with the biggest welcome home. for a love this strong, dawn only feeds him iams. compared to other leading brands, it has 50% more animal protein. ...to help keep rocky's body as strong as a love that never fades... if he ever lets her leave again. iams. keep love strong. i have a cold, and i took nyquil, but i'm still "st
. >>> "outfront" next, worries about the fiscal cliff wreaking havoc on our economy. stocks down for the fifth straight day. what lawmakers must do to stop the bleeding. >>> we count down our top political rivalries. find out how many of your favorite politicians made this list. ve, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest....
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up next, just over 24-hours from now if we goefr the fiscal cliff, who should we blame? re, ♪ ♪ >> this country is about to take a plunge over the fiscal cliff. who is really to blame? watcjomg this one. >> president has a decision to make. he can support these measures or be responsible for reckless spending and the largest tax hike in american history. >> the republicans in the house have decide to do rundown an alley that has no exit. >> republicans aren't about to write a blank check or anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> every time we come to a solution it was a year and a half ago in the summer right now the republicans walk away. >> don't automatically assume the president wants to cut a deal. i think he wants to wait to see if he gets blamed for it before he starts really negotiating. >> nobody can get 100 percent of what they want. this is not a contest between parties in terms of who looks good and who doesn't. >>> the real consequences to what we do. >> fox news contributor and democratic pollst
up next, just over 24-hours from now if we goefr the fiscal cliff, who should we blame? re, ♪ ♪ >> this country is about to take a plunge over the fiscal cliff. who is really to blame? watcjomg this one. >> president has a decision to make. he can support these measures or be responsible for reckless spending and the largest tax hike in american history. >> the republicans in the house have decide to do rundown an alley that has no exit. >> republicans aren't about...
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we're in the final stretch of the looming fiscal cliff and looking ahead to lawmakers returning to capitol hill tomorrow. that is next on the edge. . >>> what are you doing new year's eve? about a million people will be packed to ring in 2013. he's more on how they're getting ready. >> reporter: already decorated for the holidays, pressed for the world's biggest new year's party are underway in the big apple earlier today, time square alliance officials tested the confetti that will fall after midnight, throwing it out a window on to unsuspecting people on the streets and they will watch the ball drop monday night. the 2013 sign is situated on top of one-time square. it's seven feet tall. after four decades of dick clark helping america ring in the new year, 2013 will be the first celebration following his death. a special with his name and grades on it will be in the ball this year. we spoke with his fe
we're in the final stretch of the looming fiscal cliff and looking ahead to lawmakers returning to capitol hill tomorrow. that is next on the edge. . >>> what are you doing new year's eve? about a million people will be packed to ring in 2013. he's more on how they're getting ready. >> reporter: already decorated for the holidays, pressed for the world's biggest new year's party are underway in the big apple earlier today, time square alliance officials tested the confetti...
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major, what is the president's next move? >> reporter: it is not a breakthrough but it is a glimmer of hope. officials tell cbs news the president will meet with harry reid, mitch, house speaker john boehner, democratic leader nancy pelosi tomorrow afternoon at the white house. to try to find out if there is a way to avert the fiscal cliff. today, after the president returned from his vacation in hawaii, he did meet with his senior advisors. they did conduct some back- channel negotiations as they have been during the holidays on a bill to possibly avert the fiscal cliff. those talks i'm told did not make much progress. the face-to-face conversations may fact create the possibility of a breakthrough. but right now the president has no new proposals to give his congressional leaders. he will stick with what he told the nation on friday-- raise income taxes for households earning more than $250,000, extend unemployment benefits for those americans out of work for more than six months, and try to find some other means to avert t
major, what is the president's next move? >> reporter: it is not a breakthrough but it is a glimmer of hope. officials tell cbs news the president will meet with harry reid, mitch, house speaker john boehner, democratic leader nancy pelosi tomorrow afternoon at the white house. to try to find out if there is a way to avert the fiscal cliff. today, after the president returned from his vacation in hawaii, he did meet with his senior advisors. they did conduct some back- channel...
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. >> under current law on january 1st, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases. i hope that congress will look at that and figure out ways to achieve the same long-run fiscal improvement without having it all happen at one date. >> there's still significant distance between the two sides, but negotiations continue. there's still time left to reach an agreement. and we intend to continue negotiations. >> and so, here we are, new year's eve, and the country counts down to popping champagne corks, the ball dropping in times square, and going over the fiscal cliff. if congress fails to act in the remaining hours of 2012, taxes will go up on all americans and a series of mandatory government spending cuts will kick in. hello, new year. hello, new recession. after two years of missing self-imposed deadline after self-imposed deadline, all eyes were on the senate over the weekend as the house's failure to even bring a plan to a vote left it up to the upper chamber to find a way out. vice president biden who had remained on the sidelines in this r
. >> under current law on january 1st, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases. i hope that congress will look at that and figure out ways to achieve the same long-run fiscal improvement without having it all happen at one date. >> there's still significant distance between the two sides, but negotiations continue. there's still time left to reach an agreement. and we intend to continue negotiations. >> and so, here we are, new...
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his top picks coming up next in a fox business exclusive. ♪ ashley: face call cliff, fiscal cliff, fiscal cliff, that's three more times, holding stocks hostage, down fifth day in a row. energy stocks notably weak again today. six down days in a row so check out the energy select spider exchange traded fund. it's xle, and it's basically a proxy for the energy complex, oil producers, service providers, pipeline operators, and xle, as you see, up 1.25%. in terms of the individual names, exxon mobile down 1.5%. chevron down 1.5%. total down 2%. conoco phillips 1%. red arrows across the board. congressional leaders meeting at the white house right now, and there is -- the question is is there any chance there's a deal before we hit the cliff, or do we just hunker down and wait for spring? gosh, i hope not. lance roberts, ceo of street talk, joining me in a fox business exclusive. lance, thank you. look, they are meeting in washington now. i don't know whether we should be excited or not. what do you think is the outcome? when do you think we'll get something done? >> not until after the first
his top picks coming up next in a fox business exclusive. ♪ ashley: face call cliff, fiscal cliff, fiscal cliff, that's three more times, holding stocks hostage, down fifth day in a row. energy stocks notably weak again today. six down days in a row so check out the energy select spider exchange traded fund. it's xle, and it's basically a proxy for the energy complex, oil producers, service providers, pipeline operators, and xle, as you see, up 1.25%. in terms of the individual names, exxon...
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ashley: the fiscal cliff is the big story. that is not the only thing that could mean major changes for you and your wallet next year. changes for healthcare. that is coming up next. shibani: we are also waiting for the president's remarks live from the white house. we will bring them to you live. ♪ droid dna augmentation initiated. vision expanding to a 5-inch 1080p hd display and camera. touch acquiring nfc. hearing evolng with beats audio. wireless charging activated. introducing droid dna by htc. it's not an upgrade to your phone. it's an upgrade to yourself. the 952013 kicks off, affordable care act will be front and center. we know there will be an eventful year. what are some of the biggest things we need to keep an eye on >> the biggest thing is the affordable care act. the obama administration sees this as the key here for getting it implemented. there is a problem with that, though. most of the governors do not want to participate. ashley: if they do not participate, does that mean the federal government comes in a
ashley: the fiscal cliff is the big story. that is not the only thing that could mean major changes for you and your wallet next year. changes for healthcare. that is coming up next. shibani: we are also waiting for the president's remarks live from the white house. we will bring them to you live. ♪ droid dna augmentation initiated. vision expanding to a 5-inch 1080p hd display and camera. touch acquiring nfc. hearing evolng with beats audio. wireless charging activated. introducing droid dna...
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we'll see what they have in terms of a fiscal cliff. we have much more as we track this countdown. congressman steny hoyer, tom cole, steve israel all next. first a look at some people behind the scenes at msnbc. i hope you all have a very happy new year. >> happy holidays from "the daily rundown!" >> happy holidays. >> and have a very happy new year. >> happy holidays. >> happy holidays. >> happy new year from "andrea mitchell reports." >> merry christmas. >> merry christmas from "the cycle!" >> happy holidays from the "alex witt" team. >> happy holidays from "up with chris hayes." >> happy holidays! >> merry christmas. happy holidays. >> happy holidays from msnbc. >> happy holidays. >> merry christmas. happy holidays. >> happy holidays from the p.a.s. >> from all of us at msnbc, merry christmas and happy holidays. >> merry christmas. happy holidays. >> merry christmas. happy holidays, everybody. >> hello, team. what a wonderful 2012. i'm looking forward to a fantastic 2013. happy new year. >>> happy new year. the question today. are you ready to go cliff diving? breaking news top
we'll see what they have in terms of a fiscal cliff. we have much more as we track this countdown. congressman steny hoyer, tom cole, steve israel all next. first a look at some people behind the scenes at msnbc. i hope you all have a very happy new year. >> happy holidays from "the daily rundown!" >> happy holidays. >> and have a very happy new year. >> happy holidays. >> happy holidays. >> happy new year from "andrea mitchell reports."...
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we wil speaker of the house john boehner failed last week to pass a fiscal cliff pill after pushback from some conservatives. now, speculation that he might be pushed off the political cliff and be kicked out of the top job in the house. joining us now from nashville, republican strategist chip saltz mapp and here in the studio with me, anthony holmes. also a republican strategist. i first started hearing of this a couple of weeks ago. i know john boehner and like him a lot. people are oh, we lost the election, time to to something. how to there is this supposed mini revolt. anything to this? >> looks like there could be. the greater thing is it is philosophically disengine with us to spend 8 months telling americans that tax increases hurt the economy and turning around 8 weeks later after the ehe election and offering to surrender a one year debt ceiling pore tore yum and increase taxes under the guise of helping the economy. philosophical. >> laura: the reality, though, anthony is that they lost the election in november. so the taxes are going go up. i mean the idea that -- taxes
we wil speaker of the house john boehner failed last week to pass a fiscal cliff pill after pushback from some conservatives. now, speculation that he might be pushed off the political cliff and be kicked out of the top job in the house. joining us now from nashville, republican strategist chip saltz mapp and here in the studio with me, anthony holmes. also a republican strategist. i first started hearing of this a couple of weeks ago. i know john boehner and like him a lot. people are oh, we...
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cliff, consumers think next year we'll see higher taxes and lower entitlements. the only place in our space where we see a very significant fiscal cliff hit is aspirational customer, so the step-up customer into low-end tiffany's jewelry, for example, we just don't think they showed up this year. >> even if people, stacy, are going to be hit by higher taxes next year, at least some people are going to be hit by higher taxes next year, a lot of this is psychological, isn't it. you turn on the tv and you're feeling spooked, right? and once we have a deal or resolution, uncertainty taken away, will people unleash their spending? will this be unlocked? >> i think at the high end, yes, there will be some relief, and, you know, to laura's point, we were in tiffany over the weekend, you would be shocked how much sales help was available on the silver floor. typically you can't get near a sales person there. >> right. >> but a lot of it is psychological, but then again, christmas has come and gone and the full-margin products have come and gone. you fix the fiscal cliff
cliff, consumers think next year we'll see higher taxes and lower entitlements. the only place in our space where we see a very significant fiscal cliff hit is aspirational customer, so the step-up customer into low-end tiffany's jewelry, for example, we just don't think they showed up this year. >> even if people, stacy, are going to be hit by higher taxes next year, at least some people are going to be hit by higher taxes next year, a lot of this is psychological, isn't it. you turn on...
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and can lawmakers prevent an economic crisis by agreeing on a fiscal cliff deal? darren gersh reports. >> reporter: here is a measure of how bad things are now in washington. markets rallied on news the house will come back to work on sunday, even though there is no solution ready for lawmakers when they return. and in the senate, which is back at work, republican leader mitch mcconnell warned he would not write a blank check to the white house, though he said he would keep an open mind on anything the president proposes. >> it appears to me the action, if there is any, is now in the senate side and we'll just have to see if we're able, on a bipartisan basis to move forward. >> reporter: senate majority leader harry reid said he too would try to reach agreement. but that was after spending most of the day hammering away at house republicans. reid blamed the current stand off on the inability of house republicans to pass their own plan which would have extended tax breaks for everyone making less than a million dollars a year. >> it's the mother of all debacles. th
and can lawmakers prevent an economic crisis by agreeing on a fiscal cliff deal? darren gersh reports. >> reporter: here is a measure of how bad things are now in washington. markets rallied on news the house will come back to work on sunday, even though there is no solution ready for lawmakers when they return. and in the senate, which is back at work, republican leader mitch mcconnell warned he would not write a blank check to the white house, though he said he would keep an open mind...
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Ñe >>> let's face it, fiscal cliff has most people outraged. we asked for you to send in your thoughts on this matter, and boy did you ever do it. we opened up a can of worms when we did this. joining us from orlando, and we received lots of feedback from our eye reporters, terry, i want you to listen and get your reaction to one of them who holds nothing back, calling lawmakers spoiled brats. >> this whole fiscal cliff mess shows how incredibly out of touch you are with the way people really live in this country. you are off in la-la land and everyone's saying how you're acting like a bunch of spoiled brats who are more interested in being right than doing the right thing and actually representing the people who elected you. >> understand why she's upset, because most americans -- i don't know, do you think most americans have an idea of what all this fiscal cliff chatter means? >> oh, yes. oh, yes, don, i think people have a very, very good idea, and it's not just a selfish idea, either, about they'll have less money in their paychecks as com
Ñe >>> let's face it, fiscal cliff has most people outraged. we asked for you to send in your thoughts on this matter, and boy did you ever do it. we opened up a can of worms when we did this. joining us from orlando, and we received lots of feedback from our eye reporters, terry, i want you to listen and get your reaction to one of them who holds nothing back, calling lawmakers spoiled brats. >> this whole fiscal cliff mess shows how incredibly out of touch you are with the way...
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. >>> more on our special coverage of the fast moving negotiations over the fiscal cliff. up next, hear why one high profile democrat says going over the cliff would be good for the stock market. and your 401(k). check this out. >>> a compromise on the estate tax may be part of a last minute deal in the fiscal cliff. we're talking about how much money you can leave for your loved ones after you die. republicans want to extend the current estate tax that tops out at 35% and affects the states. the outline of the deal that just has been floated together would set the estate tax at 40% and the threshold at $5 million. let's bring christine romans in to make sense out of all of this. what do the numbers mean to real people? >> what it means, it is a victory politically for republicans and it means many republicans have said for a small business owner, small family farmers, people who have worked hard and amassed an estate, it means that they won't have to pay much more than they currently do for an estate tax. this is a true compromise here. because this is w
. >>> more on our special coverage of the fast moving negotiations over the fiscal cliff. up next, hear why one high profile democrat says going over the cliff would be good for the stock market. and your 401(k). check this out. >>> a compromise on the estate tax may be part of a last minute deal in the fiscal cliff. we're talking about how much money you can leave for your loved ones after you die. republicans want to extend the current estate tax that tops...
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"off the fiscal cliff, this fall is really going to hurt." that's what they said. >>> up next, it used to be a favorite republican pastime, going after hillary clinton. it hasn't happened for a while, of course, but what if she does run for president? how could they resist doing it again? you're watching "hardball," the place for politics. she knows you like no one else. and you wouldn't have it any other way. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects ma
"off the fiscal cliff, this fall is really going to hurt." that's what they said. >>> up next, it used to be a favorite republican pastime, going after hillary clinton. it hasn't happened for a while, of course, but what if she does run for president? how could they resist doing it again? you're watching "hardball," the place for politics. she knows you like no one else. and you wouldn't have it any other way. but your erectile dysfunction - you know, that could be...
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Dec 27, 2012
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off a fiscal cliff perhaps. well, let's go to jeff flock who is at the exxonmobile refinery in illinois. i was going to mention the name of the town, but i will let you do that, jeff. jeff: a little small town outside joliet. you're looking right now actually at something you don't often see at refiners but sometimes do, it's called flaring. it is when a refinery goes back on-line after an unplanned shutdown, they have to burn off some dangerous gases, they have to report that to the federal government because it's a potentially dangerous situation. but that danger is nothing like the danger to the oil market from the fiscal cliff. take a look sat oil today -- take a look at oil today, pulled back a little bit after the big run up yesterday. and the run up yesterday i think wasn't so much fiscal cliff, it was more mideast action, but the story really isn't so much actually price. it is volume, the lack of volume. because of the fiscal cliff, huge amounts of oil money on the side lines right now. take a look at v
off a fiscal cliff perhaps. well, let's go to jeff flock who is at the exxonmobile refinery in illinois. i was going to mention the name of the town, but i will let you do that, jeff. jeff: a little small town outside joliet. you're looking right now actually at something you don't often see at refiners but sometimes do, it's called flaring. it is when a refinery goes back on-line after an unplanned shutdown, they have to burn off some dangerous gases, they have to report that to the federal...